December 10, 2018

EM Bypass-Lifeline of Kolkata transforming its realty skyline

Eastern Metropolitan Bypass or EM Bypass can be reckoned as one of the major lifelines of Kolkata which has moved much ahead of the curve in transforming the city’s realty skyline. The adjoining neighbourhood of this 21 Km stretch has metamorphosed both residential and commercial real estate dynamics to altogether new levels in the recent years. At this juncture, I would like to share its growth story and present its current picture with you.

Starting from Ultadanga in the north till Kamalgazi in the south, the thoroughfare can be subdivided into three main segments i.e. North (Ultadanga to Chingrighata), Central (Chingrighata to Ruby) and South (Ruby to Kamalgazi). Connectivity, mobility, infrastructural development, pro-active governmental policies, affordability and luxury value propositions are the major drivers that have leveraged the necessary resources for organized real estate growth in and around the stretch.

If we consider the northern segment i.e. Ultadanga to Chingrighata, high-end apartments with exclusive facilities and amenities drive the aggregate market demand. This stretch plugs directly with the IT hubs of Salt Lake and Rajarhat in the east, Central and North Kolkata. International hotel chains like Hyatt Regency, malls like Mani Square and FBB, movie theatres like Inox and Cinemax, entertainment zones like Swabhumi, stadium like Salt Lake Stadium, hospitals like Apollo Gleneagles, AMRI, Columbia Asia and premium car showrooms like Volkswagen have literally enhanced the grandiose appeal of the area. The residential capital values in this stretch of EM Bypass ranges between Rs.7000 to Rs.11,000 per square feet.

The Central segment i.e. Chingrighata to Ruby has spearheaded uniquely in providing the residents some of the best apartments in the city. In this respect, Christopher Road off this stretch is a prosperous neighbourhood which is worth mentioning boasting off with some ultra luxury apartments. The upcoming 4.2 Km flyover from Parama Island to Park Circus will further strengthen the connectivity platform. Hospitality industry in this stretch has gained robust foothold with two world class hotels like ITC Sonar and Taj Gateway providing round the clock obtrusive services. US based luxury hotel chain JW Mariott is expanding their base here. ITC is also increasing their niche hospitality exposure through further expansion. Fine dining is also another important characteristic of this stretch. Restaurants like Mainland China, Sigree, Oh!Calcutta and Sanjha Chulha give the best food experiences in the town. Apart from that, reputed hospitals like Ruby Hospital, Desun and Fortis, car showrooms like BMW, Toyota, Chevrolet and Hyundai, schools like Delhi Public School, Heritage and Calcutta International School, entertainment and educational zones like Science City and Energy Education Park and newspaper headquarter Bartaman Bhawan make this stretch of EM Bypass one of the realty hotspots in the city.

The southern segment i.e. Ruby to Kamalgazi leads the pack in blending affordability and luxury in the right proportion. Suburban growth is a reality in Kolkata and this stretch is an indispensible part of that growth. Connectivity, mobility and affordability are three potential drivers that lure the residential real estate market of this stretch. Mainly, from Garia to Kamalgazi, demand for MIG segment housing is prolific. The residential capital values in this stretch ranges between Rs.3500 to Rs.5000 per square feet and gated communities within the range of Rs.30 to Rs.70 lacs are readily available. Fully operational metro rail and suburban railways, widening of road, pollution free environment, presence of reputed educational institutions, hospitals and shopping malls among others are some prospective features that have stimulated the end user’s demand as well as that of the investors. To name a few, shopping mall like Metropolis, hospitals like Peerless, Rabindranath Tagore Institute of Cardiac Sciences & Medica Superspeciality, institution like Satyajit Ray Film Institute have largely propelled the buying sentiments. Adding to that, the Kolkata BRTS (Bus Rapid Transit System) from Ultadanga to EM Bypass will be also operational soon that will add new dimension to the connectivity domain.

Lastly, it can be stated that EM Bypass is one of the nerve centres of Kolkata’s real estate market that has grown exponentially over time and in the current scenario it disseminates immense potential.

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